Living in Alaska, I have found warmth comes in layers. I hunt above the artic circle, and here is what I use.

Base layer - Merino wool or fleece underwear, I prefer the wool, but the fleece works well.

Next layer - light fleece shirt and wool pants (technowool from woolrich)

Next layer - heavy wool shirt, fleece stocking cap, waterproof gloves

This set up will keep me comfortable down to about 10 degrees if I am moving some. If I really expect it to be wet like on an ocean hunt or such, I substitute flleece for the wool. It dries out better, but in my opinion does not cut the wind as well.

If I need more, I will put on a parka and waterproof bibs. That will keep me dry and comfortable well down below zero.